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opportunity for americans. at a time when our deficit has been cut in half, it enables us to meet our obligations to future generations without a mountain of debt. this adheres to the spending principles members of both houses and both parties agreed to. it also builds on that progress with what we are calling an opportunity, growth, and security initiative, that invests in our economic priorities in a smart way that is fully paid for by making smart spending cuts and closing tax loopholes that right now only benefit the well-off and well-connected. i will give you an example. right now our tax system provides benefits to wealthy individuals who save, even after they have amassed multimillion dollar retirement accounts. by closing that loophole, we can help create jobs and grow the economy, and expand opportunity without adding a dime to the deficit. we know the country that wins the race for new technology will win the race for new jobs, so this budget creates 45 high-tech manufacturing hubs where businesses and universities will partner to turn groundbreaking research into new indus
with a deficit reduction plan similar to republicans', democrats', and the administration's. during that time, he reached across the aisle to try to make the supercommittee work, to help it meet its mandate. he offered a compromise that included spending cuts in exchange for tax revenue. unfortunately, his compromise and the other compromise discussed did not make it through. the committee, in a sense, failed to come to conclusion to propose to the senate and the house a compromise that could be lived. .. >> i want to welcome the senator from pennsylvania senator to me. >> toomey. >> excuse my voice it sounds worse than it is. think you for having me today and for his kind introduction and from universal health services it was allen's idea that i'd be invited to speak with you this morning and i appreciate that but i was a little surprised to be honest because allen knows about my notorious weaknesses with the public speaker and invited me any way. i say notorious for meet -- for be the department of public speaking made clear by only a smile -- of small child. i have three little kids into are n
in the federal budget deficit was the major had planned. the next figure shows the largest for your reduction of the deficit mobilization of world war ii. ended fiscal year 2009 has fallen by 5.seven percentage points cheapie and nearly half of that happened of the last fiscal year alone. the private sector continued to power through the spending caps of 2011 of the payroll tax holiday is indicative of the economy. of those such help to bring about the deficit reduction as a balanced approach to making progress to sustainability there were necessarily compounded by the sequestration in march and with the shutdown in october it took a large bite out of fourth quarter gdp growth as well. i will say more about fiscal policy and a moment but that it would be considerably less of a head wind in the years to come. before i move on to the more forward part of my talk i want to make one last point about the economy's progress to put it in a context of what we have seen at around the world with recovery from financial crisis. we know it is longer, harder, the more difficult and with that regard to pre
spending in the future than was riginally projected. >> because they were projecting a deficit of 4% of g.d.p., how much does the health care calculations factor into that differential? >> the biggest difference is policy. you just quoted the c.b.o. number which assumes no policy. the president's policies would reduce the deficit by 1.8% of g.d.p. in the last year of the budget window. as a result obviously the deficit's a lot better with deficit reduction, which is what we are showing in our budget, than if you didn't have deficit reduction. which is what a budget baseline would show. there's some other technical differences between our outdear forecasts. they are mostly on the revenue ide not spending side. >> this is for anyone. do any of the participants know tax revisions vare frye from current law apart from the -- >> obviously we have a set of proposals in there, so one of he places where -- that's in our a -- assumed in our budget is that in the 2010 and 2012 budgets the president extended his increases for the refundibility in the child tax credit. the increases in the earned inc
for his domestic initiative while also strengthening the deficit. >> host: dan, republican caller. >> caller: i was just listening earlier to a caller talking about the epa, and they talked about bill companies getting all these breaks. based on what i've read and found out on the internet is a pay $60 million a day in places, in taxes. and how you going to pay that if you shut down the oil companies and the guy that's supplying the energy for the united states? >> host: where did you read they pay for leasing of the land and taxes? >> caller: that's just on the internet. >> host: zachary goldfarb, the oil companies and gas company to pay taxes and they do have to pay the federal government to lease these lands. >> guest: that's right. the reason the government thinks is there is its multiple. first, the government belief these are public lands in many cases and some some of the benefits of that oil and gas should spread the people in those committees and around the country and not just into the pockets of the company. secondly, there is enforcement, environmental regulations in t
's fiscal outlook. we have cut the deficit in half as a share of the economy, experiencing the fastest fury of deficit reduction since the demobilization of world war ii. the budget continues this progress. bringing deficits down to a share of the economy to 2% by 2023 and putting the debt on a declining path. we've seen a notable and significant decline in health care spending growth over the last few years, in part due to the affordable care act, we know that over the long run, the growth of the health care costs continues to be our nation's most pressing fiscal challenge. that is why the budget builds on the savings and reforms to health reform law with additional measures to strengthen medicare and medicaid and encourage high-quality and efficient health care. we also know that revenue has to be a part of the solution to our nation's long-term fiscal challenges. given the aging of our population and the declining ratio of workers to retirees, we will need additional revenue to maintain our commitment to seniors, while also making the investments that are needed to grow our economy and e
of the conditions applied. difficult steps need to be undertaken to raise as gas prices and trim budget deficits, but ukraine should be given a long enough pleased so these reforms don't strangle a nation. today dealing with threats to its very existence. second, crimea. russia has invaded ukraine. make the mistake. they have done so in violation of the united nations charter and the very accord that they signed in 1994 guaranteeing crimea's territorial security. no doubt vladimir putin will soar him as his ally in ukraine president's office in no doubt he didn't like the fact united states voiced his strong support for the right of a sovereign ukraine to make independent decisions about its future partnerships. and no doubt, he is infuriated that the ukrainian people are now on their way to getting their way. this is not a schoolyard. you don't get to push around weaker or just because you don't like them. this is a 21st century. the reason we belong to organizations like the united nations, the reason we negotiate treaties like the budapest memorandum is because we now understand after centuri
-murray, it is paid for with spending cut and tax reforms. it is deficit neutral. supporting what the president said in the state of the union, there is a series of programs to create jobs. it lays out $302 billion infrastructure proposal that is paid for with pro-growth tax. it strengthens the manufacture base and supports groundbreaking research to fight disease, protect the environment and develop new technology. it enhances the administration's management efforts to deliver a government that is more efficient and supportive of economic growth. and it will expand opportunity for all-americans. it doubles the maximum value of the earned income tax credit to encourage people to enter the workforce. and makes high quality preschool available to every four year old. and drive workforce training. it will focus on the primary drivers of long term debt and deficits. it builds on the forms of the affordable care act and continues to slow health care cost growth while improving the quality. it will curb tax breaks that benefit the wealthiest. it calls for pro-growth immigration reform. the deficit has bee
deficits and strengthens our long-term fiscal outlook. through additional health care reforms, tax reform and by fixing our broken immigration system. we recognize the importance of the bipartisan funding compromise reached by the congress and the budget shows the president's funding priorities at the 2015 spending levels that were agreed to in the deal. however, we believe those are not sufficient, both in 2015 and beyond, and to ensure the nation is achieving its fullest potential. for that reason, the budget includes an opportunity, growth and security initiative that is fully paid for. it's split evenly between defense and nondefense and it presents additional investments in things like education, research and manufacturing. building on the model established in ryan-murray, the initial tiff is fully paid for with a balance package of spending cuts and tax reforms, so it is deficit neutral. supporting what the president said in the state of the union, the budget includes a series of measures to create jobs and accelerate growth in the economy. for example, as the mdafferings announced
time as governor. in my understanding the 2014 budget would reduce the projected deficit. general expenses were down by nearly $200 million during the second half of last year and expected revenue is up. the governor has made these efforts with the goal of having a balanced budget by 2015, something we could all work towards. a goal that i applaud as you know, as i understand and have seen progress is being made. the senate should do everything that we can to encourage economic development across our country, including in the commonwealth of puerto rico. we need to work as partners in the con -- in confronting its high energy costs, double-digit unemployment and continuing resolution. as we support self-determination, we should ensure that our focus on political status does not prevent us from addressing the immediate economic needs of the commonwealth of puerto rico. i want to thank you for the time to speak and join my colleague on this important issue and senator wicker, i look forward for your support of a fair and open process in looking forward to working with you on this. m
, and they really do look at me like i'm on medication when i tell them, the deficit is falling pretty sharply. this mode of fiscal restraint is grossly underappreciated. i will talk about that in a minute or two. this mood of fiscal restraint will persist as long as one thing continues and that is republican control of the house. toill leave it to dr. cook give us his analysis of where the houses added after the 2014 election. i think this theme has legs and will continue for quite some time. before this,d me what about all the gridlock in washington? i would agree that we look dysfunctional in this city but i would also say that we have had some fairly interesting breakthroughs in the last two or three months. we got a budget deal with paul ryan and patty murray. i think paul ryan is growing as a politician, not as reflexively conservative. i think he was willing to even look at some modest revenue increases. we got a farm bill. it wasn't great but we got a farm bill and most importantly, you see clear signs from the republican leadership in the house that they did not want a crisis over the
to the federal deficit. h.r. 3370 enables congress to develop a long-term solution that protects local economies and holds government accountable. i yield back the balance of my time. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentlelady from maine seek recognition? >> to address the house for one minute and revise and extend my remarks. the speaker pro tempore: without objection, the gentlelady is recognized for one minute. ms. pin grow: thank you, mr. speaker. mr. speaker, i want to talk for two girls from maine. they both celebrated their eighth birthdays last month and are in second grade. ms. pingree: since their presents are just days apart they decided to have a joint birthday present. instead of presents, they asked for people to bring the most needed items from the food pantry. there was never a suggestion from a parent or teacher to do this, they planned it all themselves. i agree with their teach whore said, these two girls have some of the biggest hearts she's ever seen. their compassion and generosity is inspiring and i want to recognize and
. the progress the last year was notable in part be coz of the steep decline in the federal budget deficit was the major had planned. the next figure shows the largest for your reduction of the deficit mobilization of world war ii. ended fiscal year 2009 has fallen by 5.seven percentage points cheapie and nearly half of that happened of the last fiscal year alone. the private sector continued to power through the spending caps of 2011 of the payroll tax holiday is indicative of the economy. of those such help to bring about the deficit reduction as a balanced approach to making progress to sustainability there were necessarily compounded by the sequestration in march and with the shutdown in october it took a large bite out of fourth quarter gdp growth as well. i will say more about fiscal policy and a moment but that it would be considerably less of a head wind in the years to come. before i move on to the more forward part of my talk i want to make one last point about the economy's progress to put it in a context of what we have seen at around the world with recovery from financial cris
has supported, would reduce our deficit by hundreds of billions f $s, finally secure our border, restore the rule of law within our country, and ensure that never again do we have millions of people in this country illegally. more than a year ago, the new democratic coalition helped pave the way in immigration reform with a list of detailed principles on immigration reform. it will reduce democratic back logs, reunite families, create jobs for americans and spur competitiveness. in august we issued a letter to speaker boehner demanding he introduce a comprehensive immigration reform bill and if he failed to to so, we would introdouse our own. no bill was forthcoming so new democratic co-legislation members worked with a diverse group of colleagues on both sides of the aisle to introduce the house's only bipartisan comprehensive immigration reform bill, h.r. 15, last october. since then, we have met with countless stake holders from business owners to law enforcement to agriculture to the faith-based community. all who support moving the ball forward and support our bill, h.r. 15
. at a time when our deficit has been cut in half, it enables us to meet our obligations to future generations without a mountain of debt. this adheres to the spending principles members of both houses and both parties agreed to. it also builds on that progress with what we are calling an opportunity, growth, and security initiative, that invests in our economic priorities in a smart way that is fully paid for by making smart spending cuts and closing tax loopholes that right now only benefit the well-off and well-connected. i will give you an example. right now our tax system provides benefits to wealthy individuals who save, even after they have amassed multimillion dollar retirement accounts. by closing that loophole, we can help create jobs and grow the economy, and expand opportunity without adding a dime to the deficit. we know the country that wins the race for new technology will win the race for new jobs, so this budget creates 45 high-tech manufacturing hubs where businesses and universities will partner to turn groundbreaking research into new industries and new jobs made in america
'm on medication that i tell them the deficit is falling and falling pretty sharply. i think this move fiscal restraint is grossly underappreciated. i will talk about that in a minute or two. this mood of fiscal restraint will persist as long as one thing continues, that is republican control of the house. i will leave it to dr. cook to give us his analysis of where the house is headed after the 2014 election but i think this theme has legs and will continue for quite some time. now somebody asked me right before this, what about all the gridlock in washington? i would agree that we look dysfunctional in this city but i would also say that we've had some fairly interesting breakthroughs in the last two or three months. we got a budget deal. paul ryan and patty murray. i think paul ryan is growing as a politician. not as reflexively conservative. i think he was willing to look at even some modest revenue increases. we got a farm bill. wasn't a great bill but we did get a farm bill. most importantly you see clear signs from the republican leadership in the house that they did not want a crisis
it toward deficit reduction and investing in america, our roads, our bridges, our schools our health care system, our priorities demand it and require it, afghanistan is now the most corrupt nation in the world. afghanistan supplies more illegal drugs to the rest of the world than any -- all the rest of the nations combined. it's time to end our involvement and stop that shameful waste of american taxpayers' and patriots' blood and treasure. thank you, mr. speaker. the speaker pro tempore: for what purpose does the gentleman from virginia seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, so order. mr. mcdermott: mr. speaker, you listen to the other side, you'd think that the costs of the environmental protection agency's efforts to reduce demrobal warming and to protect our environment are breaking the back of our economy. but it's hardly the case. what's really beginning to break the back of our economy is the cost associated with extreme weather events. from hurricane sandy to the droughts in the midwest and the
security is our deficits, our debt. it's going to crowd out other spending. it threatens our economic viability, our growth potential, and it actually places us at risk for some financial crisis in the years to come. so i -- our voters deserve better. and look at how they tend to maneuver this legislation. it's just so absurd sometimes. we should laugh about it if it weren't so serious, and it is serious. the sanders bill, the veterans' bill that we are being told we must vote for or they will accuse us of being unkind and unsupportive and unsympathetic to our veterans. that day's over. we're not going to be intimidated on this. we're going to do the right thing for veterans and america. this bill would exceed the spending limits for the current fiscal year that congress and other -- and the president agreed to just three months ago. initially -- and it gets worse in the outer years, it would clearly add another $260 million in mandatory spending and authorize another $182 million this year, fiscal year 2014 we're already in, $182 million. and it gets worse. so we agreed in 2011, augu
moral about running up huge deficits, about out of control welfare bills. if we don't deal with these problems the whole country will be poor. i think we should listen to the words of george carey, the former archbishop of canterbury who said this. the churches should be aware of the dangers of blindly defending a gargantuan welfare budget that increases politician would cut as a matter of economic common sense. i think serious politicians have to engage in this and that should go for everybody. >> ed miliband. [shouting] >> mr. speaker, i join my honorable friend and the prime minister in congratulating team gb on a brilliant performance at the window limits but as the threat of floods passes there's thousands out of their homes. some are still underwater and hundreds of businesses and farms are still struggling to recover. the committee on climate change, the house of commons library and the uk statistical authority have all now said that government investment and flood defenses has fallen. in the light of this an event we have seen, does the prime minister think it's rig
'd have to keep mentioning it. we are reduce ug the budget deficit through the a.c. avment i know our colleagues on the other side of the aisle are very, very careful about budget deficits. good. they should be. well, health care costs are declining and declining significantly. some of that is due to the recession, but almost every expert says much of that is due to the a.c.a. national health care expenditures, for instance, in 2012 grew by 3.7%, meaning that the growth from 2009 to 2012 was the slowest since government collected information. and that was in the 1960's. the percentage of health care spending for the first time -- the percentage of g.d.p. -- actually shrunk from 17.3% to 17 230eu%. at the same time, solvency of medicare health insurance fund increased and costs declined. so this is great news. bottom line, i know our colleagues on the other side of the aisle think they've hit political gold had they attack the a.c.a. and call for its repeal. but the american people don't want repeal and, secondly, as we move on in time, the positives of a.c.a. will become more apparent
the irs money the revenues will go down the deficit will go on. it makes intuitive sense to say if you give the irs more money they can collect more revenue. it sounds like it makes sense, but there is no empirical evidence. fact, at times just the opposite is true. 2001, 2009 the appropriations was increased and the revenue collections went down. obviously there are other factors than just how much money era scott. the up to look at inflation, population, tax policy, a lot of different factors. in fact, last year, 2013 is the best year ever. we collected almost 3 trillion. the most money ever collected at a time when this sequester was going on. so there is less money for the ira's to have. so all of that is this to and i don't necessarily believe that higher level of spending it was a higher level of service. and that is why i think we have an oversight hearing. it's not just how much you have been and you spend it. i think how you spend it can actually improve even if you don't have as much as you might have been his everybody knows the government needs money to provide services. bu
of legislation that congress passed to address the chronic deficits in the national flood insurance program. they are undoing the work to provide some relief. in the energy bill, the house will be taking up a measure that would restrict the epa's regulation of carbon emission by coal-fired power plants. this is a big deal in the climate change debate and a big deal for utilities. it would require any limits for new plants to be based on existing technology. that will be a theme this week. there will be several energy bills just like there was a theme about excessive regulation in view of the gop. bettelheim, as always, thank you for your time. >> death from other major decline.continue to death from alzheimer's have increased 70% in the last 18 years. over 5 million americans have alzheimer's and at this rate as as 17 million could have it. so few people have something to relate to. if my wife and i saw something -- somebody talk about it, it make us feel not alone. although whispering is better than the silence that the community has been facing for decades, it still not enough. it needs t
of the apparel tax cut coming awake, the sequestered going into affect, and other sharp sources of deficit-reduction. we don't have any of that in 2014. consumers are more be leveraged, have been by some measure on record since 1980. and as a result, i think we are in a stronger position for consumer spending this year. what we would like to see is investment following that. national savings is an important issue in its own right. i don't think it is an important determinant of investment in the short run. i think it is an important determinant of the sustainability of our overall economy of the medium and long run. net national savings including the federal sector of the corporate sector and the individual sector which has actually risen a lot and lost couple of years. as a result we have seen our current account deficit as share of the economy fall to lost his been since the 1990's. i think that is the direction and the movement you would want to see for sustainability. terms of the of the policy issues you raised we're looking at a wide range of basic health, you know, continue to stren
dollars in debt. we have an annual deficit this year that will be less than $1 trillion and we are all excited about that. the first time in five years it has been less than $1 trillion. but government needs money, i would say today the government need something more. in these discipline to rein in spending. it needs courage to make tough decisions. it needs commitment to make sure we do everything more efficiently and more effectively than we have done before. we want to work with you to help you do that, to help you set the right priorities which help you spend the money that we appropriate to you. we thank you for being here today. we will have questions. before we do that, i want to turn to my friend, the ranking member. let me say to him that it has been a whirlwind time, but he has been a great partner. we do not always agree on everything, but as we go through negotiations with our senate counterparts to come to this conclusion, it was a team effort. thank you for that. any comments? >> thank you for your willingness to work with us, especially your staff. and our staff. let's h
that billions of dollars to our deficit every year. insteadrats, we believe of more tax breaks for the few, we should make investments to grow the economy for everyone. that's what we believe. [applause] opportunity for all means guaranteeing every young person access to a world-class education. [applause] ago, justfour years an example, four years ago we took on the student loan system that gave billions of taxpayer dollars to big banks as part of the student loan system, even as there were young people out there who were not getting the help they need it to go to school. so we use the savings to help more students afford college. today, more young people are earning college degrees than ever before. you would think republicans would say, you know what, that's a good idea. good for you, mr. president. [laughter] bno, the republicans still want to return that money to the banks. as democrats, we are fighting to make sure that more americans can afford higher education, whether it is technical training, community colleges, four-year university. that is what we believe. that is what we are fight
opportunity for every american. at a time when our deficits are falling at the fastest rate in 60 years we have got to decide if we are going to keep squeezing the middle class or if we will continue to reduce the deficit responsibly while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers and it's why i'm going to fight for it this year and the years to come as president. >> the new c-span.org web site gives you have says to an incredible library of political events with more added each day through c-span's nonstop coverage of national politics, history and nonfiction books. find c-span's daily coverage of official washingtwashingt on are accessed more than 200,000 hours of archived c-span video. everythineverythin g c-span has covered since 1987 and our video is all searchable and viewable on your desktop computer, tablet or smartphone. just look for the prominent search bar at the top of each page. the new c-span.org makes it easy to watch what's happening today in you
the irs and rulemaking authority on the front page, and the trust deficit, lies between those who enforce the law. and fairly and impartially, we know it hasn't been occurring and mr. serrano and mr. george had a dialogue you. your point was one that i was going to make, it was in may of 2013 when lois lerner came out and apologized and said it was inappropriate to make comments to that regard. i think regardless of the original motive that is what we're trying to determine, how this happens, the motivations, let's talk about what happened and we will litigate who did what and do that and in this moment i want to move forward a bit and say what we doing to ensure this doesn't happen again. we talked about nine recommendations and their implementation, in your testimony both written and to the chairman's question that they're following the recommendations of the like to talk about the final 1 c 4 and rules that are proposed now, legislation before the house on this, this has become a bipartisan moment of condemnation. the aclu arguing that these are putting a muzzle on public speech and li
to pay for the benefit and their impact on the deficit. work continues when the senate gavels back and live coverage here on c-span2. >> yesterday, senate judiciary subcommittee held a hearing on solitary confinement. minnesota senator al franken has her prisons director, trust e-mail to the question on the sides of confinement. here is more. >> how big is a style? how big is the efforts out in solitary? >> the average size? >> yes, the size of the trends do. how big is that quite this is a human being we are talking about. how big is the cell? >> the average size of a cell -- i guess you are looking for the space? >> yes, the dimensions in feet and inches. the size of a cell that a person is kept in. i want to get some idea. am i asking this wrong? [laughter] i mean -- is what you are saying is there is no such thing as an average cell for solitary? typically, in the bureau of prisons, if someone is in solitary confinement, how big is the cell typically? >> the average size should be equivalent to six by four. >> okay, that is enhanced there. six by four. does a person and -- in t
budget deficits, and the economy tanked. the problem with barack obama is not that he changed bush's policies but rather that he did not change them. he took the worst of them and doubled down. he's added $6. trillion to the national debt. meaning that i had -- meaning that today's young people will have to pay back $56,000 plus interest per household to their future taxes for nothing more than to pay for this administration's overspending. he seized 1/6 of the american economy that provides our health care and well on the way to wrecking it for millions of american families, costing them their health plans, their doctors, their savings, and their security. his increased annual taxes by -- he's increased taxes, averaging about $4,00 for every household in america. he made a lot of promises that turned out not to be true. he promised that massive government spending would produce prosperity. instead average personal incomes declined $2,00 during his presidency and food stamp dependency's at an all-time high. nearly one in six americans is now living in poverty, including 22% of all
-authorization that passed congress with bipartisan support , and reduces the annual budget deficits by $16. billion over 10 years. industry professionals across my home state of pennsylvania and nationally, including farmers, foresters, conservationists, researchers, and policy advocates have praised the law as an historic improvement. the federal agriculture policy that will improve land management, support key areas of economic activity, and bolster important investments in education and applied research. susan benedict, an american tree pharmacist thames certified forest owner from state college, pennsylvania, stated, and i quote, as a pennsylvania tree farmer i can happily say this farm bill was well worth the wait. with the promotion of new market opportunities and the biobased markets program and green building markets, improved access to critical conservation programs, an increased regulatory certainty when protecting water quality of my forestings rose, this farm bill is truly the best farm bill yet forests. i applaud the conference committee members for championing strong forestry provisions such
country. we have got 17 trillion dollars in debt. we have an annual deficit this year that will be less than $1 trillion and we are all excited about that. the first time in five years it has been less than $1 trillion. yes, government needs money, but i would say today the government need something more. in these discipline to rein in spending. it needs courage to make tough decisions. it needs commitment to make sure we do everything more efficiently and more effectively than we have done before. we want to work with you to help you do that, to help you set the right priorities which help you pend the money that we appropriate to you. we thank you for being here today. we will have questions. before we do that, i want to turn to my friend, the ranking member. let me say to him that it has been a whirlwind time, but he has been a great partner. we do not always agree on everything, but as we go through negotiations with our senate counterparts to come to this conclusion, it was a team effort. thank you for that. any comments? >> thank you for your willingness to work with us, especiall
mentioning it. we are reducing the budget deficit through the aca. i know our colleagues on the other side of the aisle are very careful about budget issues. good, they should be. well health care costs are declining and declining significantly. some of that is due to the recession but almost every expert says much of that is due to the aca. national health care expenditures for instance in 2012 grew by 3.7%, meaning that the growth from 2009 to 2012 was the slowest since government collected information and that was in the 60s. the percentage of health care spending for the first time, the percentage of gdp actually shrunk from 17.3 to 17.2. at the same time the solvency of medicare's hospital insurance fund decreased and costs cut. so this is great news. the bottom line, i know our colleagues on the other side of the aisle think they hit political gold when they attacked the aca and called for its appeal but the american people don't want repeal and secondly as we move on in time the positives of the aca will become more apparent. the negatives that people perceive of aca will decline an
, eliminate all of that, we would still be running a deficit of half of one dollar trillion each year. room,e elephant in the the big animal in the room, the gorilla in the room that everyone is avoiding is a mandatory spending. , we will address that keep digging ourselves further and further in the hole. that is the real problem and we are trying to, like i say, solve it. on the backs of the military. that can't be done. guest: you are going to hear that a lot. we are solving our problems on the back of the military. he is right, discretionary spending is a small piece of this at the end of the day, but in the broader picture there has across themade federal budget. this is a big piece of discretionary spending. i think it is about half of what we spend on discretionary spending. it is a big piece of the pie to look at. we are in a time of change for the military. this is a time when we can reevaluate put the military should be doing and how much should be spending in this nation's history. active military outside of los angeles, california, good morning. caller: thank you for having me o
debt, not vets. with $17 trillion in debt and massive annual deficits, our country faces a fiscal crisis of unparalleled scope. now is not the time in any federal department to spend money we don't have. to be sure, there's much to like in the sashed sanders bill and e components were presented as separate, smaller as part of a carefully considered long-term strategy to reform the v.a., hold leadership accountable and improve service to veterans, we'd have no problem expending enthusiastic support. as with many bloated legislative projects in today's washington, the overreaching and overpromising in this bill will only lead to disappointment and recriminations as the high cost and unanticipated consequences are revealed. that will be followed by demands for an entirely new round of comprehensive reforms and the cycle will begin anew. congress should go back to the drawing board, assume a more modest approach and take up these proposals on an individual basis. that's the better path to achieving enduring and effective reform and accountability for the services we provide to our vet
debt and deficit problems. if we are going to close a loophole, the american people should get the benefit of a lower rate instead of just handing them money over to washington so he can spend more. we close a lot of loopholes, we got a lot of the junk out of the code. our plan reveals 228 sections of the tax code. we cut the size of the income tax code by roughly 25%. tax reform needs to be about strengthening the economy, making the codes blur and fairer. today we had the opportunity to make the first step forward. this is the kind of tax code the american people need and deserve. before he opened us up to questions, i want to draw your attention to a list of the major provisions in the press release. when you are talking about the entire tax code, there is a lot to go over. i want to highlight a few items on the list in addition to lowering rates, this includes simpler improved taxation of investment income. we tax long-term capital gains and dividends as normal income but exempt 40% of such income six tax, resulting in a percentage point decrease from the maximum rate indiv
the deficit, is true as well. c.b.o. tells us that from the ten-year period covering the enactment of the law to a decade later, we're going to save about $1.2 trillion beyond what we additionally estimated. current trajectories we are going to be $250 billion under c.b.o.'s initial estimate for federal health care expenditures on an annual basis. that's big savings to the taxpayers, and when you combine that with the millions of americans who have coverage, you can see how the affordable care act is working. now, there is still work to do, and there are going to be debates on the floor of the senate about ways in which we could change and fix the affordable care act. we're reordering 1/6 of the american economy. there is no doubt going to be bumps along the road and no doubt going to be places where we can find bipartisan agreement on how we can fix the act, make it work even better. but the answer from our republican colleagues has been pretty simple so far. it has been to simply repeal the law. they say they want to repeal and replace it, but we have yet to see any evidence of that replace
that there are substantial long-term budget deficit issues and a need for a sustainable physical path for the country to focus to the maximum extent possible on fiscal changes that would address the longer run issues that will be associated with rising debt-to-gdp ratio over decades and to try to avoid doing harm to the recovery, and i would take the same general position. >> but in the short run there is a value of additional fiscal stimulation in the economy that will complement what you're already doing and make it easier for you to withdraw the quantitative easing. is that a fair comment? >> i think the economy is beginning to recover and we have made progress. and, you know, at a minimum, i would hope that fiscal policy would do no harm. >> just one other quick question you have looked at an unemployment rate of 6.5% as a point of inflection if you will. but one of the aspects of the current employment situation is that labor force participation is falling that 6.5% might not capture the reality of the current economy and be an adequate sort of measure when you should begin or how you should beg
long-term budget deficit issues in the need for the sustainable fiscal path for the country and focus to the maximum extent possible on fiscal changes that would address the longer run issues that will be associated with a rising debt to gdp ratio to try to avoid doing harm to the recovery and i would take the same position. >> but in the short run, there is a value of additional step up fiscal stimulation and also make it easier for you to begin to withdraw the quantitative easing. is that a fair comment? >> the economy is beginning to recover and we have made progress. in the minimum, i would hope the fiscal policy would do no harm. >> one other question, you and your predecessors have looked at the employment rate of 6.5% as a sort of point of inflection if you will, but one of the aspects of the current situation is the labor force participation is falling so that 6.5% might not actually capture the sort of reality of the current economy idea in an adequate sort of measure when you should begin or how you should begin to undertake fiscal easing, quantitative easing, sorry. are you
loopholes as a part of a compromise approach dealing with our media and the long-term deficit challenge is. so yes the president will talk about why it's so important for democrats to advance an agenda that is focused on expanding opportunities for all. and as he has and i have as well it is certainly worth noting in the contrast, and he will again tonight with an agenda that is focused on protecting the loopholes and prerogatives of the wealthiest and the well-connected and again from expanding or protecting the opportunity for a few. >> it sounds like a campaign. when you say opportunit see oppa few yesterday you were saying the chairman proposal has had some good potential to it. >> and they rallied around it. >> the president met earlier this weekend talked about immigration reform. >> obviously the president, like all republican leaders including those running for office themselves, is engaging in political events and he will be supportive in many ways a democrat either running for the reelection or office in this cycle. in the meantime that he is principally focused on advancing an a
small needles to thread for the trusted deficits. president obama has demonstrated and wants to be a partner for peace. he is committed to trying to end the conflict and all of his claims. how he can do that? let's be candid. some of you doubt it. as it israelis security officials will a test, -- attest, abbas has been against the violence. i have also spent many hours with president abbas. i believe he clearly understands both the tremendous benefit of peace and the great costs of failure. he understands that in terms of his own people, his own grandchildren, the country he hopes to be able to lead, and in terms of the history that be leakers -- beleaguers all. he know the people what never have the self-determination without ending the conflict in a solution that delivers two states for two peoples. and so this prime minister netanyahu when he looks me in the eye and said i cannot accept a deal with the palestinians that does not make the people of israel safer. we agree 100%. [applause] but i argue, there is a distinction between a unilateral withdrawal from lebanon where
a pressure has faded to launch bold, new attacks on federal deficits. the president's fiscal blueprint expected to include proposals to upgrade aging highways and railroads, finance more prekindergarten programs and enhanced job training. the white house said it would also enlarge the current income tax credit to cover 13.5 million low aren't workers without children, expand the childcare tax credit for some parents, and make it easier for workers to contribute to individual retirement accounts. >> president obama will talk about his budget proposal to an elementary school here in washington, d.c. we'll bring you his remarks live at 11:30 eastern on our companion network c-span and we invite you to weigh in on your thoughts on the president's proposal at facebook and twitter using #cspanchat. later the white house budget office will hold a briefing with budget director sylvia mathews burwell and policy advisers. live at 12:45 p.m. eastern also on c-span. here on c-span2 we will go live to the heritage foundation for discussion of the future of ukraine. this the second of state has arri
to this aid. difficult steps need to be undertaken to right size gas prices and trim budget deficits, but ukraine should be given a long enough lease so that these necessary reforms don't strangle a nation today dealing with threats to its very existence. second cry me i can't. -- crimea. they have invaded and the very accord they signed guaranteeing crimea's territory. no doubt president putin was sore and no doubt he didn't like the fact that the united states voiced its strong support for the right of a sovereign ukraine to make independent decisions about its future partnerships and no doubt he is infuriated that the ukrainian people are now on their way to getting their way. but this is not a schoolyard. you don't get to push around weaker kids just because you don't like them. this is the 21st century. the reason we belong to organizations like the united nations or the reason we negotiate treaties like the budapest memorandum is because we now understand, after centuries of european war, how destabilizing this kind of behavior is. the irony for russia, of course, is that this
today is responsible on the mandatory side will contribute $369 billion to deficit reduction over the next decade. buy into devising high-quality and efficient care and by continuing to reduce health care cost with $450 million of net savings of for the next decade. but with the hospital insurance trust fund extended by five years and reduce the average in annual growth over the next decade from 6.3% to 5.3%. that also produces additional savings with the beneficiaries alike i want to call your attention to opportunity and economic growth and security. the budget invests to empower americans to live healthier lives and obtain financial security to the affordable care act. the budget provides resources that continue to support these efforts including the operation of the marketplace to help individuals enroll in the best health insurance coverage option for themselves and their families. the overall investment of 1.8 dollars will allow americans to finally achieve the security of health insurance for their family is something that many have waited years to attain in for some their
amendment, legislation i support that will not add to the deficit. i amal cosponsor of this legislation, which provides -- i am a cosponsor of this legislation, which provides advanced appropriations for v.a. mandatory accounts, improves services and benefits for victims of military sexual trauma, enhances benefits for survivors and dependents of deceased or disabled veterans, encourages the hiring of veterans, and unlike the sanders' bill is fully paid for. as for the iran sanctions language in the burr amendment, as i noted yesterday, there is significant disagreement between the president and many members from both parties in both the house and the senate concerning the best way to prevent iran from acquiring a nuclear weapon. the iranian regime has carried out its best attempt at a charm offensive to forestall not only the implementation but the legislative consideration of even tougher sanctions, should the regime fail to fulfill its commitments, according to november's interim agreement. the interim agreement included a joint plan of action, agreed to by iran. according to that jo
be running a deficit of a half trillion dollars a year. the real problem, the, i was going to say elephant, but i'm saying the big animal in the room, gorilla in the room that, that everybody's avoiding is the mandatory spending. and unless we address that, we're just going to keep digging ourselves further and further in the hole. and that is the real problem. and we're trying to, like i say, solve it on the backs of our military. can't be done. >> excuse me. what are your priorities for marking up the fiscal year 2015 defense authorization bill? >> getting it done by october 1st. that is by main, and you're going to hear, that is all i'm going to be talking about between here and october because i'm really concerned. i brought that up in the meeting with the big eight and secretary and general dempsey. it is incumbent upon us to get that done. last year we got the defense authorization bill done on the last day the senate was in session. or we would have missed it. now we have passed that bill every year for 51 years and some people think we have to do it for 52 years because we've done
at home than we buy from the rest of the world. we have cut our deficits by more than half since i took office. and for the first time in over a decade business leaders around the world have declared that china's no longer the world's number one place to invest. america is. we have made great progress, but we must do more to rebuild our economy and new foundation for growth and prosperity. i believe that what unites the people of this nation, regardless of race or region or party, young or old, rich or poor, is the simple profound belief in opportunity for all. the notion that if you work hard and take responsibility you can get ahead. that belief has suffered some serious blows. over more than three decades, even before the great recession hit, massive shifts in technology and global competition have eliminated good middle-class jobs and weakened the economic foundations that families depend on. today after four years of economic growth, corporate profits and stock prices have rarely been higher and those at the top have never done better. but average wages have barely budget. inequali
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